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MOVERS &
TM* cole sis highlights promotions,
transfers, hiring*, swards won and
other Ho* personnel moves within ths
suburban reel sstats community. Sand
a brief biographic* summary — inchjding
tha towns of residence and employment
and a Mack end-white photo, it
desired — to. Movers 6 Shakers.
Observer A Eccentric Newspapers.
36251 Scnooicraft. Livonia 48150.
Our fan number is (313) 591 7279.
Deacon is president-elect
BUI
vice president
•alee for Max
Broock. Weat
Bloomfield. haa
been inatalled aa
president-elect of
the Michigan
ifttt
Aaaociation of
Realtor*
Deacon haa
served aa pre*ident
of the Weatern
Wayne Oakland County Aaaocia
tion of Realtor* and treasurer of the
stale aaaociation He ia a director of
the National Aaaociation of Realtor*
The Michigan aaaociation that Deacon
ia slated to lead next year has
24.000 roember*-
C raft on joins ERA realty
June Crafton. a
Farmington Hills
resident, joined
E
ERA Banker*
Realty in that
community as a
sales aaaocia te.
•By joining a
firm which ia
affiliated with
ERA Real Estate.
^ with member
Craftcm broker* in all 50
itates. June will be able to offer home
buyers and sellers a wide variety of
pruducta and services." said John
Rum broker of ERA Bankers Realty
Mathisen: safety manager
S. Morris Mathisen waa appointed
aa safety manager for Peruu Building
Central U S Division in Southfield
He will be responsible for safety and
toss prevention control.
Mathisen. with more than 20 year*
construction experience, has previously
worked as a site safety engineer
He haa a degree in industrial relatione
from Eastern Washington University
C21 East recognizes:
Several agent* at Century 21 East
ID Rochester Hills recently were recognized
for outstanding sale* achievement*
Lyle Knapp was awarded Top
Agent of 1995
Top-producing awards ware given to
Bob Katner, Ed Otlewski. Holly
Hohnholt. Tim Milligan. Diane
Carik. Cheryl Bailey. Mike
Sinitha, Lori Benigni. Sharon
May worm, Dianne Mitchell and
Cynthia VeotaL
Also, Dmureen Piaano, Ann
Clubh, Tom McCrone, Boh Coco©cetta,
Michelle Vallee, Donna
Bock. Tina Shimon. Larry Hohni
Tucker. Tracy
and Kathy Coon.
and
Otiewsid also were hooored sa i
ber* sf the Elite Masters Cfab
THE
(Dbecruer
newspapers
Briefs, Rote • Hemes Safes, Page 31I • Mortgage Shopping, Page SB
REAL ESTATE
THURSDAY, MARCH 7, 1996 • PAGE 1 SECTION
\n pi*
March usually brings an increase in houses available for sale from the relatively slow months of January and
February.
Warmer weather will bring more sales
If you're thinking of moving io s new
house or condominium, we've turned
the corner and are heading toward
the prints listing snd ealee months of
the year, statistically speaking.
Pigures on both those fronts lsst
year rebounded dramatically during
March aad April alter hibernating
through January and February,
according to RealComp II.
The mammoth multi-listing
includes Western Wayne/Oakland
County, Birmingham, Bloomfield,
South Oakland, Rochester, North
Oakland. Detroit, Dearborn and Livingston'realty
boards.
Nearly a third of the 56,756 U*ung*
reported to RealComp II during 1995
occurred during the months of May,
June snd July, said Karen Kaga.
director of the senries.
Correspondingly, the three consecutive
months last year with the most
eslss were June. July and August.
Nssrly s third of the 82,740 sslss
-Thst is typical,- Kage said. "I>e
been doing this a long time now. 17
yesrs, and summer is ususlly ths
busisst (for sslss)
"In my opinion, when it's close to
school being let out, a lot of people
will list their bouse in sttempts st
selling and relocating before school
And the real slow
Housing sales should climb to their usual
spring and summer levels- So price your
house properly; You want a price high
enough for you get what the house is
worth, but not so high no one will buy it.
It's the holidays." Kage said. "People
don't want to show their home
during the holidays."
Lsst summer, agent* bemoaned s
shortage of houses for sale. As of June
1, RealComp reported 20 percent less
inventory than was svsilable on that
date in 1994.
Things are still tight
As of the end of January, 8,534
houass snd condoe were available for
sale in the RealComp II network, a
5.5 percent decrease from what was
available in January of 1995.
"Normally, as soon aa the holidays
are over, we're really busy,** said
Carol Kery. s partner and salee essociate
with the Prudential Accent
Realty in Uvonia. That*s not the case
because we just don't have enough
It could be everyone has refinanced,
they have low payments and might be
reluctant to sell." she said.
"Ws hove lots of buyers, people calling
on houses ' Kery said. "When we
get a listing. It soils in a coupls of
days if it's priced right."
Larry Horn, an associate broker
with Century 21 Today in Farmington
Hills, attributes low inventory to
refinancings and an increase in housing
values so that people foal they're
limited to what they can subsequently
buy after selling.
Buyers and agents both hsve to
move quickly todsy. Horn said.
If s bouse is updsted and in good
shane. you don't have s day or two to
think about it," ha said. "Last week
on Friday. I gave s customer 20 listings
be wanted to drive by and look
St. He called me on Sunday with eight
he was interested in and only one was
still available "
. Mike Workman, salee manager for
the Michigan Group Livonia office,
•hares that observation.
"You sss s home you like, you better
grab your checkbook," he said. "It's a
big decision we're asking people to
make instantaneously. I'd like to see
more inventory."
An agent, apparently, must pay
even more attention to detail when
inventory shrinks.
•You really have to follow new listings
on s daily basis, even hourly
basis," Horn said.
Tom Lipmaki, a Realtor with Chamberlain
in Birmingham, projects an ;
upswing in inventory.
"Last year, it was difficult for peojfe;
to make the decision to sell and buy ft; 1
new house altar just refinancing," hp-
Mid. "People are past the break-evfca
point now (on refinancing expense**, I;
fool it's going to be a better year eA:
that alone." i
Agents form inventory by contorting
owners trying to sell their own hou*e:
and following up on expired listings.'*;
Tm bumping into s lot of resi estate
•gents," Iiirin^' aaid. "When inventory
is tight, more people are fightifig
for the few."
•Part of the problem ia aorne people
•re still waiting for warmer weather,"
Workman aaid. "If you put your borne
on the market now, you can still move
in June or July.
"Typically, you look at March as
being an inventory explosion month.
With the market being hot now, it
may behoove the seller ta move quicker."
Sake prices, reportedly, are holding
firm 1
"In many cases, we're getting multiple
offers snd sslss sre in exceee of
asking prices," Workman said.
Houses priced too high generally sit
Management company and lawyer may be liable
Ion fas any sfswi.
|Ws think that both the
Q. I am extremely upset with
my follow condominium board
member* for hasloslly being
management company,
whieh haa turned out to ho a
praeeat attorney, who was
said thai they could find a
cheaper lawyer who would
review tho management eon-
It waa In ardor, and thaa wa
M the Management
It appesrs thst the msnsgement company waa
attempting to bring in the attorney which, ss you
had some sort of financial interest in the
management company to re present the interests of
the aaaociation
The sttorney should have disclosed to you ths relationship
that it had with the management company
Alao. the ettorney who wss fired bees use of this
arrangement may have a cause of action against
both the management compeny and the attorney
The management company and the attorney you
hired may have conspired together to interfere with
the contractual relstions between the association
and its former ettorney.
Moreover, the new attorney itaelf may hsve
breached both legal snd ethical responsibilities to
the aaaociation in connection with ftill disclosure to
H.
You msy also treat this ss s learning experience in
regard to interviewing management companies aad
attorneys.
Remember, you ususlly get what you pay for and
thst there Is no such thing es s free lunch
A That issvery
ths smendmenls te
which may sr may not apply to your
bassd upon cos's reeding of the eevim
inium Act.
1978 Condominium Act. you csnnot change one's
percentage of value, without everyone's consent.
While you can probably amend your documents to
give everyone an equal voting right, to the extent
that the percentages of valus sre used for levying
assessment*, you would not bs able to amend the
percentage of value to accomplish that purpose " -Z
You are beet advised, however, to hsve an attorney
give your condominium s complete legal audit as to
your condominium documents, including your mastor
deed, your articles of incorporation, and bylaws.
Robert M. Meisner is a Birmingham area attorney
concentrating his practice ia the areas af condomini
urns, real estate, corporate law and litigation. You
are invited to submit topics which you would libs te
tee discussed te this column, including questions
about condominiums, by writing Robert M. Meisner,
30*00 Telegraph Road. Suite 467. Bingham Farms.
Michigan 46026.
This column provides general information and
should not be construed as legal opinion
r Meisner on the air
Observer * Eccentric real estate columnist
was asked lo participate ss a fo»
gusst on the radio program "Ask the Realtor "
'Ask the Realtor ia broadcast 9-10 ajn
on WPON radio. 1460 AM.
Meisner will be speaking on the "Law of the Land"
at approximately 9:46 a m The shew deals with
questions snd snswsrs regsrding multiple real